Neptune Wellness discloses Nasdaq delisting notice

Neptune Wellness “announced that it received notification from the Nasdaq Stock Market LLC on November 30, 2023, that Nasdaq has determined to delist the Company’s common shares due to noncompliance with the Minimum Bid Requirement and the Stockholders’ Equity Requirement. The notification specifies that the Company is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as the bid price for the Common Shares on Nasdaq closed below $1.00 for 30 consecutive trading days. As the Company previously implemented two reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one, it is not eligible for any compliance period specified in Rule 5810(c)(3)(A).”